Retiring at 52... 13-Year Income Gap Before Receiving Pension

Older Workers Facing the Need to Work Until Age 73

In South Korea, the average retirement age for middle-aged and elderly workers from their primary lifelong jobs is only 52 years old, but they hope to continue working until the age of 73 to prepare for living expenses in retirement, according to a recent survey. As a result, there is an income gap of around 13 years between leaving a main job and starting to receive the national pension, prompting most older adults to re-enter the workforce after retirement.

According to the report entitled "Analysis of Reemployment and Job Characteristics of Middle-aged and Elderly People after Retirement" released by the National Pension Research Institute on July 18, the average age at which middle-aged and elderly people in employment quit their longest-held main job was 52.9 years old as of 2025. Meanwhile, the average age at which they hope to keep working in the future was 73.4 years, which is significantly higher than the statutory retirement age of 60.

The proportion of middle-aged and elderly people hoping to continue working has been steadily increasing, reaching 69.4% in 2025.

The main reason for wanting to work was financial. When examining the reasons for wanting to keep working, 54.4% stated it was to supplement living expenses, more than half. 36.1% answered that it was because they enjoyed working, and 4.0% said it was to relieve boredom. These results reflect that current pension income alone is insufficient to fully support living costs in retirement.

The process of leaving a job was also predominantly involuntary, rather than through retirement at the statutory retirement age. Analysis of reasons for leaving their main jobs in 2025 showed that 28.7% had been forced out due to business downturn or business closure, which was the most common reason. Health problems accounted for 18.6%, and caring for family members for 16.0%.

In contrast, only 9.8% left due to reaching the statutory retirement age, and just 2.8% did so because they voluntarily felt it was time to stop working. Overall, involuntary reasons—including layoffs, recommended resignations, or business difficulties—accounted for 75.1% of retirements from main jobs.

This loss of jobs at an early age without adequate preparation is leading middle-aged and elderly retirees to quickly seek new employment.

According to survival analysis using data from the National Retirement Security Panel, about 80% of middle-aged and elderly retirees succeed in finding reemployment within two years of quitting their previous job. Only about 10% remain unemployed five years after their initial retirement.

This content was produced with the assistance of AI translation services.